IRIS Accounts Production v23.4.0.336 01790900 Board of Directors Board of Directors 1.7.22 30.6.23 30.6.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh017909002022-06-30017909002023-06-30017909002022-07-012023-06-30017909002021-06-30017909002021-07-012022-06-30017909002022-06-3001790900ns15:EnglandWales2022-07-012023-06-3001790900ns14:PoundSterling2022-07-012023-06-3001790900ns10:Director12022-07-012023-06-3001790900ns10:Director22022-07-012023-06-3001790900ns10:PrivateLimitedCompanyLtd2022-07-012023-06-3001790900ns10:SmallEntities2022-07-012023-06-3001790900ns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3001790900ns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3001790900ns10:SmallCompaniesRegimeForAccounts2022-07-012023-06-3001790900ns10:FullAccounts2022-07-012023-06-3001790900ns10:CompanySecretary12022-07-012023-06-3001790900ns10:RegisteredOffice2022-07-012023-06-3001790900ns5:CurrentFinancialInstruments2023-06-3001790900ns5:CurrentFinancialInstruments2022-06-3001790900ns5:Non-currentFinancialInstruments2023-06-3001790900ns5:Non-currentFinancialInstruments2022-06-3001790900ns5:ShareCapital2023-06-3001790900ns5:ShareCapital2022-06-3001790900ns5:FurtherSpecificReserve3ComponentTotalEquity2023-06-3001790900ns5:FurtherSpecificReserve3ComponentTotalEquity2022-06-3001790900ns5:FurnitureFittings2022-07-012023-06-3001790900ns5:LandBuildings2022-06-3001790900ns5:FurnitureFittings2022-06-3001790900ns5:LandBuildings2022-07-012023-06-3001790900ns5:LandBuildings2023-06-3001790900ns5:FurnitureFittings2023-06-3001790900ns5:LandBuildings2022-06-3001790900ns5:FurnitureFittings2022-06-3001790900ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3001790900ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3001790900ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-06-3001790900ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-06-3001790900ns5:Secured2023-06-3001790900ns5:Secured2022-06-3001790900ns5:RetainedEarningsAccumulatedLosses2022-06-3001790900ns5:FurtherSpecificReserve3ComponentTotalEquity2022-06-3001790900ns5:RetainedEarningsAccumulatedLosses2022-07-012023-06-3001790900ns5:RetainedEarningsAccumulatedLosses2023-06-30
REGISTERED NUMBER: 01790900 (England and Wales)









Financial Statements

for the Year Ended 30 June 2023

for

Ottercroft Limited

Ottercroft Limited (Registered number: 01790900)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Ottercroft Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: L J Brown
Mrs M F Brown





SECRETARY: Mrs M F Brown





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 01790900 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Ottercroft Limited (Registered number: 01790900)

Statement of Financial Position
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 177,009 178,172
Investment property 5 1,500,000 1,500,000
1,677,009 1,678,172

CURRENT ASSETS
Debtors 6 7,095 4,043
Cash at bank 707 10,859
7,802 14,902
CREDITORS
Amounts falling due within one year 7 (539,744 ) (502,812 )
NET CURRENT LIABILITIES (531,942 ) (487,910 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,145,067

1,190,262

CREDITORS
Amounts falling due after more than one
year

8

(8,985

)

(37,732

)

PROVISIONS FOR LIABILITIES (145,743 ) (111,463 )
NET ASSETS 990,339 1,041,067

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 743,378 777,658
Retained earnings 10 246,861 263,309
SHAREHOLDERS' FUNDS 990,339 1,041,067

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Ottercroft Limited (Registered number: 01790900)

Statement of Financial Position - continued
30 June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 March 2024 and were signed on its behalf by:




L J Brown - Director



Mrs M F Brown - Director


Ottercroft Limited (Registered number: 01790900)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Ottercroft Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents total rent receivable during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% Straight line

Investment property
Initial measurement
Investment properties are initially measured at cost.

Subsequent measurement
Investment properties are measured at fair value at each reporting date with changes in fair values recognised in profit or loss. No depreciation is provided in respect of investment properties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Freehold property
Initial measurement
Freehold properties are initially measured at cost.

Subsequent measurement
Freehold properties are measured at fair value at each reporting date with changes in fair values recognised in profit or loss. No depreciation is provided in respect of freehold properties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Ottercroft Limited (Registered number: 01790900)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold and
properties fittings Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 174,500 23,768 198,268
DEPRECIATION
At 1 July 2022 - 20,096 20,096
Charge for year - 1,163 1,163
At 30 June 2023 - 21,259 21,259
NET BOOK VALUE
At 30 June 2023 174,500 2,509 177,009
At 30 June 2022 174,500 3,672 178,172

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 1,500,000
NET BOOK VALUE
At 30 June 2023 1,500,000
At 30 June 2022 1,500,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2018 788,423
Valuation in 2022 100,000
Cost 611,577
1,500,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 611,577 611,577

The investment properties were valued on an open market basis on 30 June 2023 by the Directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 7,095 829
Prepayments - 3,214
7,095 4,043

Ottercroft Limited (Registered number: 01790900)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 31,514 38,780
Tax 10,614 11,901
Directors' current accounts 492,551 448,624
Accruals & deferred income 5,065 3,507
539,744 502,812

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 8,985 37,732

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 40,499 76,512

The bank loan is secured over the company's freehold properties.

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 July 2022 263,309 777,658 1,040,967
Profit for the year 9,272 9,272
Dividends (60,000 ) (60,000 )
Transfer 34,280 (34,280 ) -
At 30 June 2023 246,861 743,378 990,239

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have given a personal guarantee lin favour of the company to secure the bank loan,and any future liabilities to the bank.